Brazil's Petrobras approves $1.2 billion investment for renewable fuels plant
6/22/2026 12:00:00 PM
The board of Brazilian state-run oil company Petrobras has approved a $1.2 billion investment to develop a plant for renewable jet fuel, known as bioQAV, and renewable diesel, the company said in a securities filing:
- Petrobras expects construction to start this year and the plant to begin operations in 2030.
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The plant will have the capacity to produce up to 15,000 barrels per day of renewable fuels.
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It will be located at Petrobras' Presidente Bernardes refinery in Sao Paulo state.
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The investment was already included in Petrobras' 2026-2030 strategic plan.
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Following the board's approval, Petrobras will proceed with the final contracting phase for the project.
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